RPA revenue to reach nearly $2 billion in 2021 — Gartner
Despite the economic pressures caused by the Covid-19 pandemic, the RPA market is expected to continue growing at double digits through 2024.
“The main driver for RPA projects is their ability to improve process quality, speed and productivity. This becomes increasingly important as companies attempt to meet cost reduction requirements during Covid-19,” said Fabrizio Biscotti, research vice president at Gartner.
RPA sales are expected to reach $ 1.58 billion in 2020, an 11.9% increase over 2019 (see Table 1). By 2020, average RPA prices are projected to decrease by 10% to 15%, with an annual decline of 5% to 10% expected in 2021 and 2022, resulting in strong downward price pressure.
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Corporate interest in RPA catalyzed by Covid-19
The pandemic and the resulting economic damage increased the interest of many organizations in RPA.
Gartner predicts that 90% of large companies worldwide will have implemented RPA in some form by 2022 in order to digitally strengthen critical business processes through resilience and scalability, while at the same time recalibrating human work and manual effort.
“Gartner assumes that the demand for RPA will increase and that service providers will be able to provide their customers with RPA solutions more consistently due to the effects of Covid-19,” commented Cathy Tornbohm, respected Research Vice President at Gartner.
“The reduced reliance on human labor for routine digital processes will be more appealing to end users not only to reduce costs, but also to insure their business against future impacts like this pandemic.”
RPA capacity growth
Large organizations will triple the capacity of their existing RPA portfolios by 2024.
According to Gartner, the majority of “new” spending will come from large companies that are purchasing new add-on capacity from their original provider or partners in the ecosystem.
“As businesses grow, they need to add licenses to run RPA software on additional servers and add additional cores to handle the load,” added Biscotti. “This trend naturally reflects the increasing demands placed on an organization’s ‘everywhere’ infrastructure.”
Future RPA customers will come from non-IT buyers
By 2024, Gartner predicts that nearly half of all new RPA customers will come from business buyers outside the IT organization.
“Leading RPA software vendors have successfully approached Chief Financial Officers (CFOs) and Chief Operating Officers (COOs) instead of IT alone. They like the fast deployment of low-code / no-code automation. The challenge is to successfully integrate RPA into heterogeneous, changing environments. This is where IT coordination can make all the difference, ”added Biscotti.